AvaTrade Review, Rating and Comparison

RECOMMENDED FOREX BROKERS

AvaTrade execution and slippage

Slippage is the difference between the price at which the order has been placed and the price at which it has been executed by the broker. The less slippage you get, the better your trading results will be.

Our slippage data about AvaFX is sampled by 10 of the most popular forex trading strategies in Zulutrade.com.

1.02 pips

AvaTrade slippage with Kama-spot trading strategy

Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF

Clients of AvaTrade can sign up for one of 2 available account types, depending on the spread offered: a fixed spread account, offered on both available platforms, and a floating spread account, provided solely on the MT4. Both account types are commission-free and offer trading in micro lots.

Traders, willing to invest more funds are offered extra benefits: accounts with a minimum of $1000 are provided with daily signals and charting tools by Trading Central, those with at least $10000 balance – access to Direct Dealing room and clients who have deposited $100 000, get express withdrawals, customized trading terms, and special gifts.

The Company. Security of Funds

AvaTrade (formerly AvaFX) is was established in 2006 and is a part of the Ava Group, an international company offering more than 200 instruments for trade: more than 50 currency pairs, a wide range of CFDs on indices, stock, commodities, precious metals, ETFs, Bitcoin, Litecoin and others. Headquartered in Ireland’s Dublin, the Group has a global presence, servicing its customers worldwide through its offices in France, Spain, Italy, Australia, Japan, China, and Mongolia.

All companies within the group are duly licensed and regulated by the respective authorities:

- Dublin-based Ava Trade EU Ltd. is licensed by the Central Bank of Ireland and regulated by MiFID in the European Union;
- Ava Capital Markets Australia Pty Ltd. headquartered in Australia, is regulated by ASIC;
- Ava Trade Ltd. is licensed in the British Virgin Islands, and
- Japan-based Ava Trade Japan K.K. is regulated by the Financial Services Agency and the Financial Futures Association of Japan.

In February 2016, AvaTrade has set up a unit in South Africa, regulated by the Financial Services Board and in April 2016 it has also established a new subsidiary to take charge of its business and clients in Israel.

So clients of AvaTrade need not worry about the security of their funds.

Trading Conditions

Minimum Initial Deposit
Traders are required to deposit $100 in order to open an account with AvaTrade, which is an average minimum initial amount. In comparison, XM, also Licensed in the EU and Australia, requires just $5 and leading global broker FXCM –$50.

Average spreads & Commissions
There are both fixed and variable spreads in this broker’s portfolio. AvaTrade’s fixed spreads amount to 1.9 pips on EUR/USD, which is a competitive pricing. While fixed spreads can protect you from the spread widening which may occur at the close of markets or during major news releases, we would much rather trade with a broker offering capped variable spreads.

Provided solely on the MT4 platform, AvaTrade’s floating spreads are averaged 1.5 pips on EUR/USD, which is on the upper end of average. The good news is that traders can benefit from commission-free trading, as this broker gets its compensation through the spread.

In comparison, FXCM provides variable spreads averaged to 0,4 pips for the EUR/USD pair and charges a commission of $8 per lot round turn. So basically average trading costs with this broker amount to around 1.2 pips, commission included. For further information, you may look up real-time spreads of 15 leading brokers may be viewed here.

Higher leverage ratios may multiply your earnings on a small deposit, but they may also lead to losses, exceeding initial investments. That is why we advise traders to exercise caution.

Trading Platforms

When trading with AvaTrade, you will be offered their proprietary AvaTrader and the popular Metatrader 4 (MT4).

AvaTrader is simple and easy to use forex and CFD trading platform, offering 200+ financial instruments at fixed spreads, more than 30 built-in indicators, comprehensive range of orders, alerts & charting tools. It is available as desktop, web, and mobile versions.

AvaTrader platform

We have tried the AvaTrader platform and we find it to be a bit cluttered and unresponsive, so we would rather opt in for the MT4. Metatrader 4 is preferred by most experienced traders, because it is equipped with an advanced charting package, a number of technical indicators, a variety of Expert Advisors (EAs) and extensive back-testing environment.

Speaking of automated strategies, we should point out that AvaTrader’s automated trading package is remarkably rich. It includes ZuluTrade system, Mirror Trader, Signal Trader, and AvaTrade's own Ava AutoTrader, which also enables algorithmic trading through your API interface.

Promotions
At the time of writing this review, the broker offered the following bonus schemes:

- Welcome bonus on first deposit from $40 (for deposits amounting to a minimum of $200) up to $ 10 000;
- Refer a friend bonus for each friend who opens a live account from $75 up to $400, depending on the referred person’s initial deposit amount.

Methods of Payment

Clients of AvaTrade can make deposits to and withdrawals from their accounts via credit/debit cards (Visa, MasterCard, Maestro), bank wire, Skrill and Neteller.

Accepted currencies: EUR and USD, as well as GBP (only available for clients from the UK), and AUD (only available for Australian clients).

Conclusion

Part of a Global group, AvaTrade is a reputable award-winning broker with 10 years of experience, offering numerous trading solutions to the FX community. In a nutshell, here are the advantages and disadvantages with regards to this broker:

FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.

easyMarkets is a CySEC and ASIC regulated broker offering access to over 300 trading instruments, tight fixed spreads, no slippage and a 50% deposit bonus.

HY Markets is global forex broker with more than 30 years of operational experience, regulated by FCA in the UK. Trade Forex with spreads as low as 1.8 pip

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an ongoing monthly $999 forex contest, offers a $5 no-deposit bonus for anyone willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.

Traders` reviews for AvaTrade

A total fail. So inefficient. It was a nightmare to close my account. I stayed in touch with the customer service by emails and chatting directly. They were giving different information. The card that I used for the deposit had expired, so they couldn't give back the money to that card. So they were saying that I needed to provide an official document to prove that the card had actually expired. After that they would have been able to pay me back with a bank transfer (with the bank details that I had provided). Whereas the other was saying that I needed to make a new deposit by card and then they would have provided to give the money back through the card. Finally we agreed for the bank transfer. I asked if a foreign bank account was fine and they said ok and finally, when everything seemed ok and they just had to make this transfer, they said that they couldn't because the provided bank account was foreign. So inefficient and slow just to close an account. Furthermore, it is impossible to definitively delete the account, meaning that my login and password will always work, just that I don't have money on it. This is really not "clean". Why they have to keep my information such as name, email, phone, if I am not using Avatrade anymore and want to delete the account? Very unprofessional, different people saying different things. And informatically also not really a good system.

Avatrade stopped allowing me to top up my account for "regulatory reasons" WITHOUT notice, which lead to a margin call and I lost approx. 5k EUR because of that.
Their support (on the phone and by writing) was utterly useless, they didn't even try to help, just made empty promises to "find an amicable solution", which never happened by the way.

Will have to take legal actions against them and I'll probably win that case. But who wants to deal with lawyers and courts in an international lawsuit , it's just avoidable and a waste of time.

Conclusion: AVOID AVATRADE LIKE THE PLAGUE IF YOU WANT TO KEEP YOUR HARD EARNED MONEY!

PS: There is a deadline until July 21st, I'll update this review IF I'll get reimbursed.

hi, im jay, a trader from avatrade with account numbers 21--929 and 21--744, I experienced serious application malfunction or an app crash, I lost money because the application wont allow me to log in with the specific times when my account could be wiped out, Im not able to modify my opened trades because the app wont allow me to sign in. Then I emailed avatrade about it, they even call me and say I must use Mt4 instead, but when Im claiming for them to give back whats lost to me, they ignored me and I didnt even received specific answers to my questions, I sent them all the app crash reports and the times of events it happened and they olnly said and emailed me a copy of their system logs which I dont trust at all. It shows me im logged in that time it happened, if im really logged in, why cant they answer the appcrash report automatically generated by the app crash? I even envited them to other review sites which allows transparency to both parties but they wont cooperate, They ignored my claim and they even called me uncooperative when in fact I emailed them many times about it and then they are playing innocent as if it didnt happen.

AvaTreade is big and old forex broker, but 100% bucket shop with it's bonuses and fixed spreads. Besides it, spreads are too high. I recommend you to choose the real STP\ECN broekr with solid regulation.

Avatrade closed my trading account and informed me I would not be verified because I reside in Quebec: I was then denied of the profit I made but was told on the contrary that if I had made losses, my balance-losses would be paid to me........If Avatrade does not actually want to fraud traders, it should have denied them right at the point of registration once quebec is entered into the online registration form.

Hi everyone, My account number is 2050219, I am struggling with Avafx since longtime but my money is stuck in the platform hence with them. AMAR is my account manager and he is only interested in all your deposits to the account.

1. Poor customer support
2. No technical analysis or guidance provided
3. Delays in deposit transfer to account which creates panic and you have to hedge at higher levels.
4. Although they promise you trade recommendations, they leave you to trade on your own and incur losses. 5. What is concerning regarding trading is , AVA practice dealing desk what means they are dealing against you (their client, make money on your back and the only goal is that you feed them more with your money.

I trade on the forex since a couple of months. So far my experience is good with this broker. I was worried reading the reviews on this site (http://www.fxhq.com/brokers/avatrade/review) so i tested the withdrawal process. I only trade currencies with the mt4 platform and they have a lot of cool options. I suspect a so so customer service and the chat is always off but so far i have no complaints about it.

my dear all friends, my name is Diwakar Dhungel and i have live account with avafx i made profit around usd178000 with them but they didn't give me all booked profit amount, they decucted usd 110000 amoun from my trading platfrom from themselves, when i asked theam about this they said me the trade were not according to the terms and condition so my friend plzz be away from them i think they are cheating lot and lots of investors,, if you booked more profit then they wont give you i wanna complain them but dont know where to send my complaint,, and i m also consulting to the financial lawyer and i am going to fight against them on the court very soon so beware of them

I traded CFD's on AVA FX platform.
I had a terrible experience because they suddenly erased all my profitable trades. My account was 186,929.00 € !!! and it has been erased. Read my story here: http://mycfd.blogspot.it/
Many other customers experienced huge problems with ava fx and now there is a big class action against ava fx. Also the Irish Financial Ombudsman opened an inspections upon this broker.
My advice is stay away from ava fx

Ava Fx customer accounts are audited quarterly by Ernst & Young.
Ava Fx customer funds are kept in Commerzbank of Frankfurt, which is one of Germany’s leading financial institutions. So the financial linkages are excellent.
AvaFx website lists out the entire management team, and that it is indeed a comforting feature to have.
An Ava Fx account can be opened in less than 5 minutes if information is entered correctly.
This site offers e-currency exchange rates to its customers. E-Gold can be exchanged to Web money or Liberty Reserve.

I have read at a lot of places, there are lots of problem while withdrawing money from there accounts, while submitting is extremely easy. Till now I have only deposited and lost a good chunk of it. Probably I hurried into it. But now when I am reading a lot before goin in for a second round, I doubt whether I should submit more money into it.

Recently they introduce the AutoTrader System. The system will let you win in the early stage. But after a few trades all your money will be lost. And the worst is they can tell you that the autotrader can perform manual trade but the response is damn slow when you submit the trade or close the trade which results you end up losing. The attitude of the account manager is good when you have no issue. When you have issue with them, the attitude change. Overall i will only rate it at 5/5. I can only say that there are more better brokers out there.

Opening Accounts is easy but taking money out is near impossible. There processes are abysmal, I think my 3 year old niece can put a more robust and efficient process than the people there. Imagine a bank wire taking more than 8 days, additionally they just give you the run around continually. No one takes ownership of any customer complaints or clarification. If the truth be told they are not that good only positive is the $1200 bonus but the hitch is that you have to trade 1200 times before you can leave them. I don't know why they are at the top of the list of brokers since they are even worse than FXCM and that's saying something. I will not recommend joining this firm, go with GFT or some other broker.

I am with Ava for several weeks already. Some things are very good like easy deposit and activation, one click trading, hedging etc. Negatives are that spreads are fixed and pretty wide for some pairs (USD/CAD 5; EUR/JPY 4) and in reallity with slippages you'll end up with 7-8 spreads - so cost of trading is high, just be prepared. During news execution is often delayed for 30 seconds or for 1 minute, frequent re-qoutes are a norm. Charting data get missing during news release, especially on Fridays. Moreover, charting capabilities are not professional enough for forex trading like, for example, moving average can not be modified to close, high, low etc You can not change thickness of the lines etc. Also, some critical indicators like volumes are not available at all. So I have to disagree they have "award winning" platform. From my experience, the platform is very simple and inferior to MT4. Bottom line, if your forex strategy is long position holding then it's ok broker. For short term and scalping strategies look for somewhere else. Regards.

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